Accelerate Your Career—and Your Finance Salary
Finance is an essential part of business success. Whether you’re already working in finance or you dream of a finance job at a corporation, commercial or investment bank, regulatory body, or insurance agency, you’re on a smart career path.
The financial sector outlook points toward growth. According to Forbes, finance is predicted to be one of the highest-paying industries in 2024.
The 2023 Graduate Management Admissions Council survey report compared candidates with business master’s or bachelor’s degrees and found that MBA graduates continue to be the most in demand among global employers. Those with an MBA in finance are on that list, with a median salary beginning at $85,000.
Even when education costs are considered, a 2022 study led by Georgetown University researchers reveals that MBA degrees lead to higher net earnings.
Financial Sector Outlook for Employees: What You Need to Know
Numbers from the U.S. Bureau of Labor Statistics (BLS) indicate that business and finance jobs will continue to be in high demand through 2032, with more than 911,000 openings available each year.
Some finance roles are growing even faster. For example, employment of financial examiners will grow much faster than the average—by more than 20 percent across the next decade. Opportunities for market research analysts will increase by 13 percent in the next 10 years.
As of May 2022, the average salaries for business and finance jobs ranged between $52,560 and $96,200.
According to TopWorkplaces.com, these are some of the finance jobs that offer high salaries:
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- Chief compliance officer
- Chief financial officer
- Private equity associate
- Hedge fund manager
- Insurance advisor
- Financial advisor
- Compliance analyst
- Investment banker
Factors That Influence Finance Salaries
Salaries for finance jobs can vary. The pay you can expect from your finance job depends on a variety of factors beyond the financial sector outlook. Here are examples:
Degree. Organizations often choose to hire and promote professionals who have master’s-level education in the specific field of finance. An MBA in finance is a signal to employers that you have what it takes to lead financial decision-making.
Experience. Often, more years of work experience equals higher finance salaries. The time spent helping organizations optimize their financial performance makes you an asset—someone who’s prepared to bring real-world skills and lessons to the table.
Job title. Typically, if you’re in a leadership role and are charged with advising or growing a business—and your position is tied to revenue—then this level of responsibility can lead to higher salaries for finance jobs.
Geographic location. Bigger cities and business hubs have a reputation for paying higher finance salaries. Keep in mind, however, that the daily cost of living in these places is also higher than in smaller cities.
Beyond Finance Salaries: Additional Benefits of Finance Jobs
While salaries for finance jobs are high and the financial sector outlook is strong, there are many other reasons that professionals choose to study finance at the graduate level:
- You build a unique skill set. From analytical thinking to technical skills, an MBA in finance empowers you with a wide variety of skills you can apply to solve problems and create new strategies.
- There are many career paths to choose from. When you’re backed by a finance degree, you can work as a banker, an accountant, a data analyst, an advisor, a consultant, or even a chief financial officer.
- You’ll qualify for a variety of roles. These can cross almost every industry, from agriculture and advertising to entertainment and pharmaceuticals.
- You get to work with a variety of people. A finance professional can’t work in a silo. In your finance job, you’ll work closely with different departments, including IT, sales, marketing, and human resources, to help them make smart financial plans and tackle challenges cost effectively.
- You get to work with technology. Because you serve as the link between business and data, you will often get to use the latest tools and technology to gather, analyze, and report on data—and then make recommendations on where to go and what to do next.
High-Level Finance Jobs Begin With an MBA in Finance
An MBA in finance gives you the hard and soft skills needed to succeed in the world of business and the focused expertise you need to thrive in finance.
Your experience begins with fundamental business and management courses. You will then take in-depth finance courses covering topics like portfolio management, investments, international finance, and financial planning.
Baker’s academic and career support helps you finish your finance degree in as little as two years while you also focus on your professional work.
At Baker, you’ll develop a strategic mindset that helps you direct financial decision-making and be a leader in the financial world.
How to Choose an MBA That Prepares You for a Finance Job
How do you know whether the graduate program you’re considering will prepare you for the finance job and finance salary you want? Start by searching for an MBA that offers the following benefits:
Emphasizes real-world learning. Make sure you’ll have the opportunity to engage in practical, hands-on learning tailored for finance. These experiences should help you develop a deep understanding of business fundamentals while expanding your finance knowledge.
Requires a short time commitment. Our MBA in finance program lets you earn your degree in 18 months, and options are available to finish even faster. If you want to earn your degree as quickly as possible, then search for a program that will let you complete your coursework at a pace you choose.
Taught by industry experts. Faculty should be practicing industry experts who can bring their expertise and critical insights to the classroom to help you get ready for a successful career in finance.
Accredited curriculum. Baker is accredited by the Accreditation Council for Business Schools and Programs (ACBSP), a program that honors highly respected institutions. Our accredited MBA programs mean that you receive a high-level education taught by the very best.
Benefits of an MBA in Finance From Baker
Earning your MBA in finance from Baker University prepares you for a wide range of high-paying, influential roles in almost any industry, from construction to retail.
Our program provides education on a wide variety of finance topics, from the global economy and corporate finance to risk management and trend forecasting. Prepare to accelerate your finance job and earn your graduate degree online without pausing your career.
Additional benefits of an MBA from Baker include the following:
- A fully online finance degree for busy working professionals
- Theory plus hands-on experience that translates to real-world success
- Flexibility, with courses that are held online and year-round, with no traditional start dates
- Seven-week classes so you can finish your online courses quickly
- Potential for tuition discounts through your employer
- Networking with finance professionals from across the country
